Whether your business is a start-up or a veteran, here are 4 ways to get off to a flyer in 2011…increasing profitability, saving you time and reducing your costs.

 (1) Make a business plan

It cannot be stressed enough how important it is to prepare a business plan. In the same way that you wouldn’t set out on a journey without a clear idea of which route you intend to take, you should not try to run a business without a clear idea of what you want to achieve, and how you expect to get there.

A business plan should be as detailed as possible, to ensure that all potential obstacles are identified. To do this properly, you will need to include a financial budget into your plan.  Generally speaking, it is when you start to look at the numbers that you start to be more realistic about what you can (and cannot) achieve in the next three, four or five years. [Read more...]